Funding you earn now, next payment 12:00 UTC−0.0151%/8h= −16.6% APRpaid last 24h +0.028%
Price spread now: Bitget against Kraken Futures−0.023%48s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Bitget is 0.023% cheaper against Kraken Futures than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_COWUSD | 0.1593 | 0.0251 | pay 0.0031% / 1h | 52m 26s | $5K | $95 | 10x |
| Short | Bitget COWUSDT | 0.1593 | 0.0100 | get 0.0050% / 4h | 52m 26s | $378K | $205K | 50x |
Kraken Futures PF_COWUSD
Bitget COWUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against Kraken Futures. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$31.75
- Price spread: −0.023% → 0.000%
- −$2.33
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$56.08
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: no order-book sample; Bitget: live order book, 46 min ago. Net counts fees only.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Kraken Futures no order-book sample | — | — | — | — | — |
| Sell Bitget live order book, 46 min ago | 12.45 bp | 24.6 bp −$25 | 71.3 bp −$713 | doesn't fit | doesn't fit |
Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
COW on 11 exchanges
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin COW-USDT | +0.0052% | 4h | 0.1593 | −0.023% | $136K | $31K | 75x | as long as short |
| BingX COW-USDT | +0.0070% | 4h | 0.1595 | +0.102% | — | $6.6M | — | as long as short |
| Aster COWUSDT | +0.0100% | 4h | 0.1597 | +0.204% | $30K | $11K | 5x | as long as short |
| Binance COWUSDT | +0.0100% | 4h | 0.1595 | +0.102% | $2.1M | $3.0M | 50x | as long as short |
| Bybit COWUSDT | +0.0100% | 4h | 0.1596 | +0.146% | $966K | $449K | 25x | as long as short |
| Gate COW_USDT | +0.0100% | 4h | 0.1595 | +0.102% | $121K | $66K | 50x | as long as short |
| MEXC COW_USDT | +0.0100% | 4h | 0.1595 | +0.102% | $561K | $188K | 20x | as long as short |
| KuCoin COWUSDTM | +0.0100% | 4h | 0.1593 | −0.023% | $215K | $37K | 20x | as long as short |
| Bitget COWUSDTshort | +0.0100% | 4h | 0.1593 | −0.023% | $378K | $205K | 50x | |
| Variational Omni COW | +0.0100% | 4h | 0.1596 | +0.182% | $8K | $3K | — | as long as short |
BloFin COW-USDT
BingX COW-USDT
Aster COWUSDT
Binance COWUSDT
Bybit COWUSDT
Gate COW_USDT
MEXC COW_USDT
KuCoin COWUSDTM
Variational Omni COWShow all 11 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_COWUSDlong | +0.0251% | 1h | 0.1593 | long leg | $5K | $95 | 10x |